“At Bangalore 12MM TMT
prices are quoting at Rs 42,100-42,600/MT (Including all taxes) whereas deal
concludes at Rs 400-500 lower due to poor demand. Financial crisis is the main
reason of weak demand & falling prices,†said a TMT trader based at
Bangalore.
However, SAIL has
increased TMT prices by Rs 500/MT for March’13. SAIL 12MM is being offered at
Rs 43,000/MT (Inclusive of ED) after all discount, said a MOU holder based in
Bangalore region which is at premium of Rs 2500-2700/t from secondary. He also
said that RINL and Jindal will also hike the price for this month.
At Chennai TMT
manufacturers have cut their production by 30-40% due to dull trading
activities and high power prices. Presently 12MM is traded at Rs 39500+VAT in
the region with low buying from outside state.
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